Press release
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december 28, 2023 - The Italian Sea Group
The Italian Sea Group: all scheduled deliveries are confirmed for 2023
To round off a successful year, The Italian Sea Group confirms the deliveries of the three innovative yachts in 2023 under the Tecnomar, Perini Navi, and Admiral brands, following the established schedule.
In June and December, the three yachts were delivered, previously unveiled at the Monaco Yacht Show 23:
- Tecnomar This Is It, the innovative and futuristic 43m catamaran.
- Perini Navi Art Explorer, the 47m sailing catamaran, is among the largest in the world.
- Admiral S-Force 55, the motor yacht with interiors designed by Giorgio Armani, consolidating the company's relationship with this extraordinary brand.
According to the Global Order Book 2024, The Italian Sea Group was once again recognised as the leading Italian builder of yachts above 50 meters in total length.
With a combined length of 1,374 meters of yachts under production, the group ranks third globally in the superyacht and megayacht segment, about ten metres behind the second position. It also takes fifth place in the overall worldwide rating, moving up three spots from the previous year and maintaining its growth trend.
The Company concluded the first nine months of the year with a Gross Backlog of EUR 1.3 billion, a 25% growth in Revenues, and a significant EBITDA increase of 31% with a Revenue Margin of 16.5%.
The strong visibility of the order book, with deliveries scheduled until the end of 2027, and the excellent business development have allowed TISG to confirm its Guidance 2023 at the upper end of the range with Revenues of Euro 365 million and an EBITDA Margin of 16.5%.
TISG confirms all schedules of launches and deliveries for the upcoming 2024 (including five superyachts), as agreed with its owners.
"The achievements to date, being the third-largest yacht producer globally over 50 meters, the
tremendous success at the Monaco Yacht Show, and the important awards received in 2023,
confirm the validity of our development strategies and meet the market and shareholder expectations" - commented Giovanni Costantino, Founder & CEO of The Italian Sea Group - "We will continue to invest in sustainable development and cuttingedge aesthetic and technological innovations".
The Italian Sea Group is a global luxury yacht operator, listed on Euronext Milan ("EXM") and active in the
construction and refitting of motoryachts and sailing yachts up to 140 metres. Headed by Italian entrepreneur
Giovanni Costantino, the company operates in the market with the brands Admiral, renowned for its
prestigious and elegant yachts; Tecnomar, known for its sportiness, avant- garde design and high performance;
Perini Navi, esteemed for its excellence in the design and construction of large sailing yachts; and Picchiotti, a
historic Italian nautical brand with classic, elegant lines. Finally, its business unit NCA Refit manages the repair
and refitting services with a focus on yachts over 60 metres. Confirming its strategic positioning, The Italian
Sea Group has developed partnerships with renowned Italian luxury brands: Giorgio Armani, for the creation
of a series of yachts bearing his signature, expressing the fusion of two Italian style greats from the fashion and nautical worlds; and Automobili Lamborghini, for the design and creation of the "Tecnomar for Lamborghini 63", a limited-edition of motoryachts with extraordinary performance and quality beyond all limits. According to the Global Order Book 2024, an international ranking compiled by Boat International, The Italian Sea Group is the leading Italian producer of superyachts over 50 metres.
Admiral S-Force 55m Super Yacht
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ArtExplorer Navigation credit Max Malth
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Giovanni Costantino Founder and CEO TISG
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Tecnomar Motor Catamaran This Is It
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